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Impressive Growth in Cyprus Tourism Revenue: €223.3m in Q1 2024, Surging 11.7% YoY

Revenue from tourism reached an estimated €223.3m in January–March 2024, rising 11.7% compared to €200m in the first quarter of 2023, Cystat said.

Based on the results of its Passengers Survey, in March, revenue from tourism reached €113m, compared to €97.8m in the corresponding month of 2023, recording an increase of 15.5%.

The average expenditure per person was €558.88 in March 2024 compared to €530.72 in March 2023 (up 5.3%).

Tourists from the United Kingdom, again Cyprus’ largest tourist market with 31.8% of the total in March, spent on average €73.49 per day, while tourists from Poland, the second largest market with 10.4% of total tourists, spent on average €75.86.

Tourists from Germany, the third largest market with 9.8%, spent on average €98.66 per day, while tourists from Greece with 9% of the market, spent on average €43.37 per day.

Finally, tourists from Israel, the fifth place on the market with 8.2%, spent on average €143.21 per day.

Why Airbnb’s First Gala Drew Confusion And A Powerful Spotlight

When Airbnb hosted the first gala for its nonprofit in Los Angeles on Oct. 28, the internet’s response was less a question of who was there than what the event was.

Social media users joked that “Airbnb gala” sounded like an event someone had just invented. The surprise was understandable: A celebrity-studded red carpet is not the first thing many people associate with a home-sharing platform. But the occasion had a clear purpose. The gala marked a new chapter for Airbnb.org, the nonprofit the company launched in 2020 to provide free, temporary housing to people affected by crises and disasters.

A Gala With A Mission

Airbnb.org’s inaugural gala introduced a plan to direct a portion of Airbnb’s commercial revenue from each stay booked starting Oct. 28 to the nonprofit. The contribution is 10 cents per stay. Airbnb reported $12.2 billion in revenue last year, although the company’s announcement did not specify how many bookings would be needed to reach its fundraising ambition.

Airbnb says the initiative is expected to generate $500 million for Airbnb.org over five years. The funding will support the nonprofit’s goal of providing one million nights of free housing each year and broaden its work to include families displaced by domestic violence, veterans in need and people traveling for medical care.

A company spokesperson described the evening as a gathering for supporters and a way to mark “the next chapter” of the nonprofit’s work. Guests could donate, but fundraising was not the focus, the spokesperson said, and Airbnb.org set no fundraising target. The event was invitation-only, with no tables or seats sold. Airbnb plans to hold the gala annually.

Celebrity Power Meets Nonprofit Visibility

Jimmy Kimmel hosted the evening, which featured a live performance by Charli XCX and food curated by José Andrés of World Central Kitchen. Guests included Serena Williams, Demi Lovato, Charlize Theron and Cynthia Erivo.

The format placed Airbnb.org among a familiar roster of high-profile Los Angeles benefit events, including the Baby2Baby Gala and the Academy Museum Gala. Such gatherings can give nonprofits access to influential supporters while creating the kind of visibility that conventional fundraising appeals rarely achieve.

Why The Event Caught People Off Guard

The online reaction reflected a gap between Airbnb’s corporate profile and the work of its nonprofit arm. Many people were surprised that the company could convene A-list guests for a charitable event—and even more surprised to learn about Airbnb.org’s housing work.

That visibility matters for a company whose core business has also drawn scrutiny over its effects on housing affordability and local rental markets. An event alone cannot resolve those concerns. But it can introduce a different part of Airbnb’s story to a broad audience—and put a concrete charitable commitment in front of potential supporters.

The gala offered a reminder of why organizations stage these events: A room filled with donors, public figures and media can raise a cause’s profile as well as money. In Airbnb.org’s case, the immediate return may be less about a single night’s fundraising than about making its work better known.

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